Rexford Industrial Realty, Inc. (NYSE:REXR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR) have been given an average rating of “Hold” by the ten brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $51.09.

REXR has been the subject of several recent analyst reports. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Mizuho lowered their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company lowered their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th.

Rexford Industrial Realty Trading Up 0.3 %

Shares of REXR opened at $42.08 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $46.16 and a 200-day simple moving average of $47.00. Rexford Industrial Realty has a 1-year low of $41.16 and a 1-year high of $58.02. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. During the same period last year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.97%. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after purchasing an additional 17,103,653 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Rexford Industrial Realty by 262.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock worth $112,536,000 after purchasing an additional 1,620,378 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after purchasing an additional 1,489,876 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Rexford Industrial Realty by 38.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.